· Pelosi and Mnuchin maintain negotiations to reach a fiscal agreement; sessions come to an end tomorrow in the House of Representatives.
· Tax revenues recovery in August: SHCP.
· Europe considers legal action against the United Kingdom if the Internal Market Law is approved, legislation that would go against clauses in their separation agreement.
· Capital outflows in emerging economies at the end of September suggest there is strong risk aversion among markets: IIF.
· Economic indicators: Jobless claims in the US decrease (-36 thousand to 837 thousand in the week ended Sept 26).
According to figures published by the Ministry of the Treasury and Public Credit (SHCP for its initials in Spanish), non-oil revenue increased 4.3% in August compared to the same period of last year. With this, the accumulated income recorded by the public sector between January-August 2020 set at only (-) 2.3% under the same period of 2019. The SHCP assured that this is due to efficient practices regarding collection once tax revenues recorded a 1.4% annual increase (-0.5% Jan-Aug), the first one in the last four months, with increases in the collection of VAT (14.2% annual) and income tax (0.3% annual). Oil revenues remained in contractionary territory (28.1% annual). However, what stands out is that the improvement in total revenue is largely explained by the increase in non-tax revenues (83.5% Jan-Aug), which is due to the use of funds and trusts as a strategy to compensate for the fall in income. These revenues are non-recurrent.